The Coming Prosperity

On April 2, 2012 by Philip Auerswald

“Philip Auerswald shows the role that innovators must play if we are to create ‘The Coming Prosperity.’ In this important book, he reminds us that challenging the status quo is the inescapable first step toward building the future of our dreams.” — President Bill Clinton, Founder of the William J. Clinton Foundation and 42nd president of the United States

Ours is the most dynamic and promising era in human history. The benefits of four centuries of technological and organizational change are at last reaching a previously excluded global majority. This transformation will create large-scale opportunities in richer countries like the United States just as it has in poorer countries now in the ascent.

In The Coming Prosperity, Philip E. Auerswald argues that it is time to overcome the outdated narratives of fear that dominate public discourse and to grasp the powerful momentum of progress. Acknowledging the gravity of today’s greatest global challenges–like climate change, water scarcity, and rapid urbanization–Auerswald emphasizes that the choices we make today will determine the extent and reach of the coming prosperity.

To make the most of this epochal transition, he writes, the key is entrepreneurship. Entrepreneurs introduce new products and services, expand the range of global knowledge networks, and, most importantly, challenge established business interests, maintaining the vitality of mature capitalist economies and enhancing the viability of emerging ones. Auerswald frames narratives of inspiring entrepreneurs within the sweep of human history. The book’s deft analysis of economic trends is enlivened by stories of entrepreneurs making an outsize difference in their communities and the world–people like Karim Khoja, who led the creation of the first mobile phone company in Afghanistan; Leila Janah, who is bringing digital-age opportunity to talented people trapped in refugee camps; and Victoria Hale, whose non-profit pharmaceutical company turned an orphan drug into a cure for black fever.

Engagingly written and bracingly realistic about the prospects of our historical moment, The Coming Prosperity disarms the current narratives of fear and brings to light the vast new opportunities in the expanding global economy.

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On the shelf now at your local independent bookseller, such as Politics & Prose. Buy or preview at, Barnes & Noble or directly from Oxford University Press.

7 Responses to “The Coming Prosperity”

  • Philip I agree with your general premise that with the extra 3.5B of consumers coming on board from China, India etc we shall have increased market opportunities. However what you do not take into account is the increased pressure on natural resources which are already at crisis level. As more Chinese join the middle class life style and start consuming the 3x level of energy like the Americans do we will surely be over the carrying capacity of this planet. Just like the analogy of the rain-forest as the big trees fall but the soil is no longer there to nourish the new growth because of over use and neglect that is where deserts begin to form.

    Yes technological innovation had created an amazing abundance in 20th century but we can not afford to be blinded by such optimism with the population epidemic and totally unsustainable use of natural resources, else its a recipe for extinction.

  • RE BOOKTV Interview:
    Professor Auerswald: I believe I fit your definition of a “Social Entrepreneur”. I am 78, incidentally, and say this in the absence of a higher ambitious objective. The following letter, sent a few days ago, outlines a program to end our unemployment crisis, which you may find of interest. The letter is self-explanatory. I received a favorable response from the White House, but is a “wait and see” if we move in this direction:

    President Obama/Economic Advisers:

    Unemployment is a “social” problem, we as a society, must solve—fix–

    In “The Audacity of Hope” President Obama reported a pervasive mind-set on the part of the American people: “Most of them thought that anybody willing to work should be able to find a job….”. A recent Zogby poll found that “86% of Americans” agree—

    And as a democracy—it is not the American people standing in the way of this being a reality—the following is a framework for making it the law of the land:

    If one is working–then they must chip in to help their neighbor get a job–and the vast majority of Americans ask: Why have you waited so long to ask us, Washington?

    In creating “The Neighbor-To-Neighbor Job Creation Act” [hereafter NTN] it must contain the following:

    1] It must be based on the premise that we have far more work that needs to be done in America—than we have persons to fill these jobs—[the notion that we would need “make work” jobs—is both a myth, and patently absurd]!

    2] It must have renewable funding. This is NOT a “jump start” solution [such as HR 2847—HIRE Act]—i.e., funded until, in theory, the market will provide all the jobs we need [a fairy tale, at best, in any event]—

    3] It will not add a dime to our deficit! Our unemployment is not the result of a lack of jobs, or money—but rather a lack of imagination—NTN is outlined, below.

    4] It is based on the premise: Fix unemployment, and this will in turn fix the market—rather than the other way around—which is the flaw in our “conventional wisdom” today—and the reason why we still have 25 million unemployed, or underemployed, and a sluggish recovery. Also, disregarded is that if the market fails, the unemployed are out of luck!

    5] NTN is a federally mandated, mutual insurance—owned by our employed to provide a fund to hire/train our unemployed. And the infrastructure is already in place via FICA.

    6] Using The Buffer Stock Employment Model—[an expanding and contracting public workforce—and an INDISPENSABLE component in a modern market economy]—NTN would be triggered anytime our unemployment exceeds 3%–and contract as employees return to the private sector.

    7] For a modest policy cost of 4% of salary we can reduce our unemployment, within a year of passage, to 3%—and as “authorized” in Public Law 15 USC § 3101. For comprehensive detail see: –HR 870 [currently in Committee], and “OUR GREED AND IGNORANCE, on Amazon/Kindle

    Jim Green, Democrat candidate for Congress, 2000

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